Hyderabad: Telangana received Rs 1,533.64 crore tax devolution on Friday, December 22. It’s the share from the Central government total of Rs 72,961.21 crore released to strengthen the state governments for financing various social welfare measures and infrastructure development schemes, given the forthcoming festivities and the New Year.
This amount is in addition to the tax devolution proceeds due to states on 10 January 2024, the finance ministry said in a statement on Friday.
Tax devolution, for funding state governments, involves the Centre distributing about 41% of its tax collections to states in 14 yearly instalments, including monthly payments, with three additional disbursements in March.
In the latest allocation, Uttar Pradesh received the largest share at Rs 13,088.51 crore, followed by Bihar (Rs 7,338 crores), Madhya Pradesh (Rs 5,727.44 crore), West Bengal (Rs 5,488.88 crore), Maharashtra (Rs 4,608.96 crores), Rajasthan (Rs 4,396.64 crores), and Odisha (Rs 3,303.69 crores).
